Strategies

Investment strategies

Each strategy is intended to be managed against a documented process with pre-defined risk limits. The summaries below are indicative and do not constitute an offer of any interest in any fund.

Asian Convertible Securities

A fundamental, research-driven approach to convertible securities issued by issuers across Asia. The strategy seeks positions where the embedded optionality is mispriced relative to our assessment of credit and equity volatility.

Asset class: Convertible securities
Geography: Asia
Approach: Fundamental, hedged

Approach

Bottom-up fundamental research on issuer credit, with covenant and structural analysis.
Relative value assessment of the embedded option against implied and realised volatility.
Position sizing driven by downside scenario analysis rather than upside participation alone.
Active hedging of interest rate and, where appropriate, equity delta exposures.

Principal risks

Credit and default risk of the underlying issuer.
Equity volatility and delta risk arising from the embedded option.
Liquidity risk in secondary markets, which may widen materially in stressed conditions.

US Multi-Asset Quantitative

A systematic, rules-based strategy across liquid United States asset classes. The process is model-driven with human oversight on risk, execution and capacity.

Asset class: Multi-asset
Geography: United States
Approach: Systematic, model-driven

Approach

Multiple uncorrelated signal families combined at the portfolio construction stage.
Position and factor limits set in advance and enforced systematically.
Execution and capacity monitored continuously to manage market impact.
Model parameters reviewed on a scheduled cycle with documented change control.

Principal risks

Model risk, including the possibility that historical relationships break down.
Leverage and margin risk where derivatives or financing are employed.
Rapid drawdown risk during regime shifts or liquidity dislocations.

CTA — Managed Futures

A systematic trend-following strategy across global futures markets. The strategy seeks to capture medium-term trends in equity index, interest rate, currency and commodity markets, sizing positions so that risk rather than notional determines exposure.

Asset class: Global futures
Geography: Global
Approach: Systematic trend-following

Approach

Rules-based trend and momentum signals applied consistently across a diversified set of futures markets.
Position sizing scaled to realised volatility, so that risk — not notional — determines exposure.
Correlation and concentration limits set at both asset-class and portfolio level.
Drawdown controls and stop rules enforced systematically, without discretionary override.

Principal risks

Trend reversal and whipsaw risk in choppy or range-bound markets.
Leverage and margin risk inherent in futures and derivatives.
Concentration risk where multiple markets move together in a correlated sell-off.

Global Credit

A fundamental relative-value strategy across global corporate credit, spanning investment grade and high yield. The strategy seeks pricing dislocations identified through issuer research, capital structure comparison and relative value along the curve.

Asset class: Corporate credit
Geography: Global
Approach: Fundamental, relative value

Approach

Fundamental credit research spanning issuers, sectors and capital structures.
Relative value analysis along the curve and across the capital structure, including seniority and covenant comparison.
Duration and currency exposures managed actively within mandated limits.
Issuer concentration and liquidity limits applied at portfolio level.

Principal risks

Credit spread and default risk, including the risk of loss of principal.
Interest rate and duration risk arising from changes in benchmark yields.
Currency risk on non-base-currency exposures, and liquidity risk in stressed markets.

Please note

The strategies described on this page are indicative summaries provided for information only. They do not constitute an offer, solicitation or recommendation to invest in any fund or product.

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